US stocks closed lower on Monday (5/1); Dow Jones -0.14%, S&P 500 -0.11%, and Nasdaq -0.04%. Stock futures were slightly lower on Monday night as traders awaited the start of the Federal Reserve's May policy meeting. Investors now turned their attention to the banking industry after it was announced that JPMorgan Chase had won the weekend auction for the struggling First Republic Bank. UST 10Y yield rose +3.81% to 3.57%, and the USD index went up +0.64% to 102.15.
Commodity market closed lower on Monday (5/1); WTI oil -143% to USD 75.68/bbl, Brent -0.2% to USD 86/bbl, coal closed at USD 185.15/ton, nickel closed at USD 24,259 and CPO closed at MYR 3,353. Gold slipped -0.40% to USD 1,991/toz.
Asian stocks closed higher on Monday (5/1); Kospi +0.67%, Nikkei +0.14%, Hang Seng +0.27%, and Shanghai +1.14%. JCI fell -0.43% to 6,915. Foreign investors record an overall net buy of IDR 621 billion; IDR 651.3 billion net buy in the regular market, and -IDR 30.3 billion net sell in the negotiated market. The largest foreign inflow in the regular market was recorded by BBRI (IDR 303.7 billion), followed by BBCA (IDR 150 billion), and INCO (IDR 92.8 billion). The largest foreign outflow in the regular market was recorded by SMGR (IDR 72.3 billion), followed by TLKM (IDR 40.9 billion), and BMRI (IDR 40.4 billion). Top leading movers were GOTO, AMRT, and MIKA, while the top lagging movers were BYAN, TLKM, and UNTR.
Nikkei rose +0.29% this morning, while KOSPI fell +0.66%. We expect the JCI to rebound today, given positive sentiments from global and regional markets.